17th October 2020, (Sydney, AEST):
Insurtech start up Blue Zebra Insurance (‘BZI’) and specialist Accident and Sickness underwriter Point Insurance (‘Point’) have launched a new brand called `Blue Point Insurance’.
Blue Point will distribute Personal Accident and Sickness insurance via Blue Zebra’s insurtech platform (the Zebra Lounge) to more than 11,000 registered broker users.
Announcing the launch, BZI’s Managing Director, Colin Fagen, said Blue Point would aim to become a major player in the Personal Accident insurance market within the next 5 years, competing on agility, service and claims excellence with an end to end digital experience.
“Point Insurance has a fantastic product and is renowned for its service to brokers.
It’s a like-minded business and this new brand creates an opportunity to expand their footprint to the 350+ brokerages that access the Blue Zebra digital platform,” he said.
Point Insurance Managing Director, David Fogarty, said that using the Blue Zebra technology and distribution network for Blue Point was a natural fit.
“To get our product up and running on the Blue Zebra platform has been really straightforward and we are excited to deliver our services to even more brokers,” Mr Fogarty said.
“The Blue Point brand brings together product, service, technology and distribution into an offering that will deliver an experience markedly different for the market.”
Mr Fagen said The Zebra Lounge platform continued to be the platform of choice for broker partners during these unprecedented times.
“Our regional managers are excited to support the future growth of Blue Point, which delivers on our strategy to build out our product range to meet broker’s needs.”
Both Blue Zebra and Point are backed by Envest, an entrepreneurial investment firm that is building an ecosystem of technology, products and services in the insurance industry.
In October, Blue Zebra was awarded Best Digital Strategy (Underwriting Agency) at the Insurance Business Awards and continued the expansion of their platform with;
– A LIVE Commercial Motor pilot, with a full launch planned for 9 November
– Delivery of phase 2 of the Cyber insurance pilot, with product, pricing and user experience all enhanced over the last 2 months in direct response to feedback
The company is also gearing up to launch its SME offering to the market, with the pilot to commence to a small number of brokers in the first week of November.
The Point Underwriting Agency was founded five years ago and specialises in accident and sickness products for the broker market. Point partners with various underwriters at Lloyd’s as security for its products.
About Blue Zebra
Blue Zebra is an insurtech underwriting agency delivering its product suite exclusively to brokers and their clients.
Blue Zebra began in September 2017 and offers Home, Motor and Landlord insurance, as well as its innovative Home Business Extension cover. As of August 2020, Blue Zebra has written in excess of $150m premium since launch and has provided coverage to more than 100,000 customers.
Blue Zebra leverages `big data’ sources to efficiently enable the quote process and enhance its understanding of the underlying risk. Blue Zebra has a small and highly empowered team who deploy technology tools to streamline and automate back-end processes while delivering great service and efficiency to their brokers.
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